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7/15/25
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Space Investment Partners has purchased a 395.7k sf community retail center in the OC city of Fullerton, in a $118.5 mil ($300/sf) transaction. The asset was sold by Kite Realty. The deal marks the largest outright sale of a retail asset in Orange County in the last eight years, according to Eastdil Secured.
Known as Fullerton Metrocenter, the high-performing, dual-grocery-anchored center sits on 30 acres at 1375 Harbor Blvd, just north of the 91 Fwy. The property is home to more than 40 national and local retail tenants including Sprouts, Target, Urban Air Adventure Park, and PetSmart. It was 97% occupied at the time of sale.
Space Investment Partners plans to revitalize the center with fresh paint, updated signage, enhanced landscaping, and targeted leasing efforts focused on attracting new food and fitness tenants that enhance both the property and the surrounding community.
Fullerton Metrocenter was built in 1988 and renovated in 2002. It has strong visibility, high daily traffic volumes, and attractive in-place rents. Fullerton is a well-established and vibrant community in North Orange County, known for its strong demographics, dense residential neighborhoods, and proximity to major educational institutions such as California State University, Fullerton.
Christopher Hoffmann, Mark Damiani, and Chase Levra, with Eastdil represented the seller in the transaction. Eastdil also arranged acquisition financing on behalf of the buyer. Greg Stampley and Jessica Henning led the debt process.
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